MASLOC chases MPs, others for non-payment of car loans

The Microfinance and Small Loans Centre (MASLOC), is currently on the heels of some Members of Parliament who bought their vehicles on loan, but had defaulted in paying back several years after.

According to the Chief Executive Officer (CEO) of MASLOC, Stephen Amoah, letters he wrote to the MPS involved asking them to honour their obligations have not received any reply.

Mr. Amoah, who made the revelation on the Citi Breakfast Show on Wednesday, however refused to name the legislators involved. He only said the defaulters are from the two main parties in Ghana – the governing New Patriotic Party (NPP), and the opposition National Democratic Congress (NPP).

“Some of the MPS came for the cars or whatever loans or assets for their personal use, some of them actually did that for other people as guarantors. If you guarantee for a beneficiary, there is a declaration that anytime that there is default; you would have to perform that obligation…Some of them were leaders of the previous government. So I wrote to each of the MPs and put it into their pigeon holes—I never had any response from any of them. I also wrote to the clerk of Parliament, I did that but there was no response.”

When asked to disclose the identity of the MPs involved, Mr. Amaoh said “It’s not every bit of information I can bring up because it’s a high house and I have to respect them…For the MPs, I won’t bring it to the public domain now.”

The CEO made the claims on the back of reports that some 350 vehicles procured by MASLOC had been “left at the mercy of the weather” after the GPRTU refused to buy them because their prices were “too excessive.”

MASLOC has subsequently asked the Attorney General’s Department to examine the contracts following suspicion of inflated prices.

Actors, musicians, others owe us close to GHc100 million

“I went through my documents…I realized that our debt portfolio was over GHc100 million, and I found some of them to be actors, actresses, parliamentarians from both sides [of the political divide].”

Mr. Amoah said there were some who came for the vehicles and instead of using them, parked the cars at their garages for close to two years.

He also confirmed that his outfit has so far confiscated 350 of such vehicles and is currently in the process of retrieving the monies.

He threatened to take legal action against the recalcitrant debtors.

Source: Newsbos/Citi